4-2 Harvard Business Review Simulation and Journal

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Apr 3, 2024

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Jonna Walker BUS 400 Driving Business Opportunity Sean Clark 4-2 Harvard Business Review Simulation and Journal BMC Segment Changes Throughout the course of four generations, Golden Honey Farms’s business model canvas underwent several modifications, with the most significant changes being in revenue and key resources. Initially, when Harsh founded the company, it focused on a single product, and he managed all aspects of the business until his children became involved. When Ravi took over, he opted to allocate funds towards R&D to improve their product range. Furthermore, he introduced external talent to the team, leading to a shift in the company's operational structure. The Effect of Decisions The choices I made had a positive impact on the two selected segments. When analyzing income sources, Ravi's decision to invest in R&D for launching personal products led to the creation of new revenue streams, allowing them to explore different markets. Consequently, this resulted in a boost in the company's revenues. Additionally, the decision to recruit talent from outside the family might have caused some discontent, but it proved to be the correct move. This action brought about the necessary transformation in the company's structure. Ravi also opted to secure external funding. All of these choices drove the company towards greater success, ensuring the company’s longevity and Harsh's legacy.

Explore your Decisions I carefully considered each individual's opinion when making decisions and also prioritized the company's best interests and objectives. Although my decisions were not always favored by the family, I believed they were in the best interest of both the company and the family, even though they did not recognize it at that particular moment. While I don't think anyone in the family wanted the company to fail, I believe they were apprehensive about embracing change. Therefore, I made the difficult choices to guarantee the financial prosperity of the company and the well-being of the family. Assess your Decisions I am confident that the decisions I made were the correct ones. Despite maintaining the same thought process as in the initial simulation, my choices remained consistent. If faced with an alternative business or scenarios, it is possible that I would opt for different decisions. In this particular case, I chose the options that I believed were most beneficial for the business, all while also taking into account the family's perspective. Ultimately, the outcome of my simulation mirrored the first one, resulting in Golden Honey Farms evolving into a Fortune 500 company that successfully acquired three other businesses and was globally recognized for becoming one of the fastest-growing companies in the world (Family Business Simulation: Honey Heritage, 2024).

References Family Business Simulation: Honey Heritage. (2024). Retrieved from Harvard Business Publishing Education: https://forio.com/app/harvard/family-business/#/timeline

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